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Jan 22, 2013
01/13
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they are teeing off this new debt ceiling bill. john boehner will be housing a meeting with key republican leaders at 5:00 p.m. eastern time. >> reporter: >> that's coming up and john harwood is here with a preview before that meeting. >> reporter: interesting to see how john boehner describes it, but there are some signs that the whole debt ceiling threat as a source of instability for markets and the economy may be melting away before our eyes. house republicans are going to take up a bill tomorrow afternoon to extend the debt ceiling, not just to april 15, but to may 18. they are going to do it with a mechanism that would allow them in effect to suspend the debt ceiling, not even to raise it making it easier for conservatives to vote for it and senate democrats say they plan to take up that proposal and expect to pass it by an overwhelming margin sometime within the next week or so. now, jay carney at the white house today for his part said we wouldn't a longer term extension than that but the president is not going to block thi
they are teeing off this new debt ceiling bill. john boehner will be housing a meeting with key republican leaders at 5:00 p.m. eastern time. >> reporter: >> that's coming up and john harwood is here with a preview before that meeting. >> reporter: interesting to see how john boehner describes it, but there are some signs that the whole debt ceiling threat as a source of instability for markets and the economy may be melting away before our eyes. house republicans are going to...
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Jan 23, 2013
01/13
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there's a new debt ceiling plan from speaker john boehner and the house republicans that could force senate democrats to finally show their hand and pass a budget. plus it's only day four of president obama's second term, but joe biden is already commenting on possibly running for the top job himself in 2016. we'll show you what he said in a minute. first the new developments in the debate over guns in america. the national rifle association last night delivered a sharp response to president obama's inaugural address. speaking in reno, nevada, way waywayn wayne lapierre lashed out at one word from president obama. >> we cannot mistake absolutism, or treat name calling as reasoned debate. >> obama wants to turn the idea of absolutism into a dirty word, just another word for extremism. he wants you, all of you, and americans throughout all of this country, to accept the idea of principles as he sees fit. it's a way of redefining words so that commonsense is turned upside down and that nobody knows the difference. >> lapierre vowed not to give ground on gun control including efforts to
there's a new debt ceiling plan from speaker john boehner and the house republicans that could force senate democrats to finally show their hand and pass a budget. plus it's only day four of president obama's second term, but joe biden is already commenting on possibly running for the top job himself in 2016. we'll show you what he said in a minute. first the new developments in the debate over guns in america. the national rifle association last night delivered a sharp response to president...
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Jan 22, 2013
01/13
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>> they took a baby step with this debt ceiling thing saying you pass a budget. the next step is to say, okay, as part of a program of fiscal responsibility, we have to do something about this going forward. the reality is, republicans do not have much leverage. they lack the courage of their own convictions. they are scared silly because they think they will lose elections that way. dagen: what is the game plan down the road, though? will they just wait until we are on the verge of these programs starting to run out of at least some money and then they will raise taxes on wealthier people to fund them? there has to be a long game plan >> you are talking about these politicians acting like adults and thinking long-term. i do not think there is a long-term game plan when it comes to dealing with entitlements. connell: paul krugman wrote a big piece about that. we do not have to do with it now, just put it off. >> just think about the debate that we are having right now. democrats are saying we need to raise taxes for government spending. it is medicare, social sec
>> they took a baby step with this debt ceiling thing saying you pass a budget. the next step is to say, okay, as part of a program of fiscal responsibility, we have to do something about this going forward. the reality is, republicans do not have much leverage. they lack the courage of their own convictions. they are scared silly because they think they will lose elections that way. dagen: what is the game plan down the road, though? will they just wait until we are on the verge of these...
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Jan 23, 2013
01/13
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nobody put the debt ceiling or the u.s. willingness to pay its obligations on the table in the way it was placed in the summer of 2011 and the way i fear it is placed on the table again. it was a big mistake in 2011 to create this uncertainty and fear around the world and it is a big mistake to do it again today. >> what any good-thinking patriotic american want to use the debt ceiling as a vehicle to reduce spending? what would their reasoning be certainly not to embarrass the united states of america? >> i have no idea. but i can tell you -- >> if you don't have any, maybe it is to defeat the objectives that this president, at whatever cost some so-call leaders have said. they want to stop this president and they were unsuccessful in that measure. maybe they decided to change tactics and maybe this discussion is unnecessary and we find some other way to get a hand on the deficit. let me thank you to your contribution to this conversation as you have so many times before. i yield back my time. >> thank you, mr. johnson is
nobody put the debt ceiling or the u.s. willingness to pay its obligations on the table in the way it was placed in the summer of 2011 and the way i fear it is placed on the table again. it was a big mistake in 2011 to create this uncertainty and fear around the world and it is a big mistake to do it again today. >> what any good-thinking patriotic american want to use the debt ceiling as a vehicle to reduce spending? what would their reasoning be certainly not to embarrass the united...
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Jan 22, 2013
01/13
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let's turn to the debt ceiling -- >> oh, we have a debt problem? lou: republicans make a a move to ends the nonsense. i hope you tell me tonight there's no discussion by the republicans whatsoever of shutting down the government, that this is going to stay positive and move forward. >> all i want is spending under control. that's what we campaigned on because we are bankrupting this nation. we cannot continue on this path. lou: congressman, we talked for years. >> sure. lou: i have heard that speech to the point that it makes me think you don't realize while you're in the majority, conservative republicans -- >> thank you. lou: that you don't realize fully that you're in a majority of a house that is only one-third of government. >> oh, listen, i get it, but nothing that raises revenue, nothing that provides money to any part of our government gets there unless the majority in the house pass it. lou: right. >> lou, that's leverage to bring spending under control. we've just finished two years where every fight we came up to, we were told, you know
let's turn to the debt ceiling -- >> oh, we have a debt problem? lou: republicans make a a move to ends the nonsense. i hope you tell me tonight there's no discussion by the republicans whatsoever of shutting down the government, that this is going to stay positive and move forward. >> all i want is spending under control. that's what we campaigned on because we are bankrupting this nation. we cannot continue on this path. lou: congressman, we talked for years. >> sure. lou: i...
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Jan 25, 2013
01/13
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. -- debt ceiling." what we're talking about here is congress' power to borrow money and how we should be paying our bills based on that or some other med of -- method of raising revenue. so i think that's important to keep in mind. >> mr. hoagland, you were a member of that task force as well. >> yes. and in fairness, congressman, that task force also recommended a balanced plan that included tax increases as well as spending cuts, more on the spending side than the reduction in the rate of growth. the occasions of the debt level that were headed at 77% growing into the future i think has jeopardized, quite frankly, our standing in the world. when we have about 40, 50% of in this debt owned by invest beers outside of the ideas -- investors outside of the united states, we're raising questions about the sovereignty of this country going forward. and in terms of where's the turning point, i think that's the problem most economists would say they can't answer that question. who knows when that last drop in
. -- debt ceiling." what we're talking about here is congress' power to borrow money and how we should be paying our bills based on that or some other med of -- method of raising revenue. so i think that's important to keep in mind. >> mr. hoagland, you were a member of that task force as well. >> yes. and in fairness, congressman, that task force also recommended a balanced plan that included tax increases as well as spending cuts, more on the spending side than the reduction...
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Jan 23, 2013
01/13
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and then there's the debt ceiling. dull. no one was particularly surprised today when republicans began bashing speech. he offered a liberal vision - touching on preserving the social welfare safety net. some thought it overly partisan and aggressive. >> "the era of liberalism is back.unabashedly far left of center inauguration speech" congress to pass tighter gun the presidential inaugural celebrations came to end. and president obama iscoming up. his broad and ambitious agenda for his second term. and why republicans probably won't be making it any easier during the next four the investigation underway. into what caused this massive fire at an airforce base yesterday. the 40th anniversary of the so far president obama has laid out a broad and ambitious agenda for hisbut signs are scant negotiating with republicans will be any easier for the next four years. on tuesday the inaugural celebration was capped off cathedral in washington. now the president begins a second term - with plenty on his plate. threat of climate change
and then there's the debt ceiling. dull. no one was particularly surprised today when republicans began bashing speech. he offered a liberal vision - touching on preserving the social welfare safety net. some thought it overly partisan and aggressive. >> "the era of liberalism is back.unabashedly far left of center inauguration speech" congress to pass tighter gun the presidential inaugural celebrations came to end. and president obama iscoming up. his broad and ambitious agenda...
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Jan 24, 2013
01/13
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the debt ceiling another three months until the 18th of may. the vote to 852144. 111 democrats voting no. also asking the house and senate to approve a budget by the 15th of april. they don't congressional pay could be placed an escrow through late next year. does that sound like music? senate majority leader harry reid says the bill will be voted on in the senate over the coming days. the white house says the president will actually sign it into law. meanwhile, senate budget committee chairwoman saying that her committee will, indeed, draft a budget this year if adopted. the first time that the senate democrats have passed a budget in four years. so in advance to the democrats returning to regular word business, returning government at least in its transition to reality for us all. thank you very much. joining us now, the "a-team". good to have you all year. i have to think that you are about to break out in song. i mean, think about it. an agreement amongst the republicans for a 10-year plan. ryan has taken 30 years out of his plan, reduced c
the debt ceiling another three months until the 18th of may. the vote to 852144. 111 democrats voting no. also asking the house and senate to approve a budget by the 15th of april. they don't congressional pay could be placed an escrow through late next year. does that sound like music? senate majority leader harry reid says the bill will be voted on in the senate over the coming days. the white house says the president will actually sign it into law. meanwhile, senate budget committee...
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Jan 24, 2013
01/13
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we said we will raise the debt ceiling for a couple months and, you know, there you go. we haven't gotten any of the real work done? >> it was a short-term punt but i think it was pretty shrewd move by the republicans because you can't default on our debt. if interest rates went up even slightly the amount of interest we would have to pay on our $16 trillion debt would be enormous. you can't do that. it would be shooting ourself in the foot. they tried closing down the government back in the 1990s. that didn't didn't work too well. they're focusing on what is called the sequester, which are across the board spending reductions. that's where i think they will make their stand. we'll have a good robust debate about the level of spending we'll have in this country. the cuts in the sequester are too much for the pentagon for republicans to like. that will be focus rather than having republicans blamed for defaulting on the debt or shutting down the government. that was a shrewd move on their part. melissa: everybody talks about we need to get entitlement spending uncontrol.
we said we will raise the debt ceiling for a couple months and, you know, there you go. we haven't gotten any of the real work done? >> it was a short-term punt but i think it was pretty shrewd move by the republicans because you can't default on our debt. if interest rates went up even slightly the amount of interest we would have to pay on our $16 trillion debt would be enormous. you can't do that. it would be shooting ourself in the foot. they tried closing down the government back in...
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Jan 23, 2013
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ceiling -- using the debt ceiling for leverage is a mistake. i'll finish with this, because we were at the ways and means committee and i gave the opening statement, and one of the witnesses are talked about gramm-rudman. it was attached to a debt ceiling bill. i was among the democrats who voted for it, but it passed -- it was deemed passed in the house. and the debt ceiling bill was used by senators as a vehicle, not as a threat. and not for leverage but as a vehicle to attach deficit reduction. so the use of the debt ceiling for the purpose that is ascribed to this one does not have a history that supports its use for this purpose. and so to the extent that you have the ability to look at this issue, i would urge that this is not only a dangerous precedent but a very likely problem for the economy when we need to emphasize economic growth and jobs. so i say that in a somewhat sober way because of what happened before. thank you. >> thank you very much. i'd like to welcome mr. brady, former chairman of the house administration committee, who'
ceiling -- using the debt ceiling for leverage is a mistake. i'll finish with this, because we were at the ways and means committee and i gave the opening statement, and one of the witnesses are talked about gramm-rudman. it was attached to a debt ceiling bill. i was among the democrats who voted for it, but it passed -- it was deemed passed in the house. and the debt ceiling bill was used by senators as a vehicle, not as a threat. and not for leverage but as a vehicle to attach deficit...
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Jan 23, 2013
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this bill would extend the debt ceiling until may 19. it requires the house and senate to pass a budget. if they pass a budget resolution, they do not get their pay with help. they are not paid until the end of this congress. republicans say they feel hopeful and optimistic that this thing will pass. a number of republicans are saying that it will pass. we will be watching that today. as for the u.s. senate and white house, they have not ruled out this proposal. they are fine with a short term debt ceiling increase. they want to see some longer-term. they have not given it exactly a seal of approval. it seems they both parties could get behind this proposal. the first step through the u.s. house. back to you. dagen: thank you for that. let's bring in our laffer, former economic adviser to president ronald reagan. politicians will never get anything serious done. >> you are probably right. they probably will not get a lot done in the long run. the debt ceiling is one tool to get a little from the democrats and bring some spending down. th
this bill would extend the debt ceiling until may 19. it requires the house and senate to pass a budget. if they pass a budget resolution, they do not get their pay with help. they are not paid until the end of this congress. republicans say they feel hopeful and optimistic that this thing will pass. a number of republicans are saying that it will pass. we will be watching that today. as for the u.s. senate and white house, they have not ruled out this proposal. they are fine with a short term...
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Jan 24, 2013
01/13
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no budget, no pay. >> in the spotlight tonight, debt ceiling magic. that was house speaker john boehner after the house passed a bill making the debt ceiling disappear until may 18th, without cutting any federal spending. the stupidly named and conceived "no budget, no pay act" passed with a vote. 33 republicans voted against the bill, 199 voted for it. 86 democrats voted for the bill, 111 democrats voted against it. not only will the no budget, no pay act suspend the debt ceiling for about three months, it also requires the house and senate to pass budget resolutions by april 15th, and if they don't, representatives and senators will not get paid, which is of course, wildly unconstitutional. the 27th amendment prohibits congress from modifying their own paychecks in any way. they can vote to change the pay for future congress only, but republicans passing an unconstitutional bill, while at the same time relieving the pressure on the debt ceiling was welcomed by some democrats as republicans moving from out-right crazy to half-crazy. >> i'm not sure w
no budget, no pay. >> in the spotlight tonight, debt ceiling magic. that was house speaker john boehner after the house passed a bill making the debt ceiling disappear until may 18th, without cutting any federal spending. the stupidly named and conceived "no budget, no pay act" passed with a vote. 33 republicans voted against the bill, 199 voted for it. 86 democrats voted for the bill, 111 democrats voted against it. not only will the no budget, no pay act suspend the debt...
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Jan 24, 2013
01/13
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ceiling. >> thanks so much, bill. we are talking economy and politics with representative eric cantor right now, and representative, great to have you on the program. >> great to be here with you. >> thank you so much for joining us. >> let's get right to t.yesterday or this week rather the house passed a debt limit extension until mid-may. what does that buy us? >> well, what is buys us is a time for this debate about borrowing and spending to really develop into what i hope will be a robust discussion that will yield some results. we know that for almost four years the united states senate has not passed a budget, and that's part of the problem that's been contributing to the out-of-control spending in washington, and what we've said is we will extend the debt ceiling for three months to allow time for the united states senate to write a budget so we can then begin the discussions on how we're going to repay this money that we're going to borrow as well as begin to manage down the debt long term. >> what's the reali
ceiling. >> thanks so much, bill. we are talking economy and politics with representative eric cantor right now, and representative, great to have you on the program. >> great to be here with you. >> thank you so much for joining us. >> let's get right to t.yesterday or this week rather the house passed a debt limit extension until mid-may. what does that buy us? >> well, what is buys us is a time for this debate about borrowing and spending to really develop into...
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Jan 22, 2013
01/13
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so is the gop about to cave on a debt ceiling deal? we may know a lot more soon. there's a plan floating around washington, stop lawmakers pay if there's no solution on the debt ceiling by the deadline day. >>> and this guy, he's teed off, the golfer phil michakelson tee off over his taxes. and he's not going to take it anymore, or is he? sue herera is live at the new york stock exchange. >> earnings are front and center with j & j, dupont, travelers all out with results. more on them in a few minutes. let's get you ahead of the curve. google is getting ready to report its latest results after the bell. fears about an ad revenue and major focus on those shares. google right now is down 3 bucks on the trading session. john is in silicon valley with what investor s need to know ahead of the numbers. >> couple of important themes this quarter, mobile and mobile. mobile's impacted on the core business. as more people do searches from mobile devices, google's revenue has been coming down. it's more than likely this trend will continue as smartphone and tablet sales spi
so is the gop about to cave on a debt ceiling deal? we may know a lot more soon. there's a plan floating around washington, stop lawmakers pay if there's no solution on the debt ceiling by the deadline day. >>> and this guy, he's teed off, the golfer phil michakelson tee off over his taxes. and he's not going to take it anymore, or is he? sue herera is live at the new york stock exchange. >> earnings are front and center with j & j, dupont, travelers all out with results....
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Jan 22, 2013
01/13
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coming up, will the debt ceiling debate delay your tax refund? next in the president obama has begun his second term by declaring the possibilities are limitless. our political panel takes a look at the next four years. ♪ officemax can help you drive supply costs down... and down. use your maxperks card and get a 10-ream case of officemax multiuse paper for just 4.99 after maxperks rewards. find thousands of big deals now... at officemax. - ♪ 'cause people got me questioning ♪ ♪ where is the love - ma'am. you forgot your purse. - thank you. oh. thank you very much. - a message from the foundation for a beer life. >>> from our fox business stios in new york, here, again, is gerri willis. gerri: well, not wasting a second of the second term, president obama making it clear who is in charge the next four years laying out a bold agenda in the inaugural address. that's how i read it. with more, maryann marsh, a democratic strategist, and rich lawry, editor of "the national review. " whato you think of the speech? >> audacious. one, it was an u
coming up, will the debt ceiling debate delay your tax refund? next in the president obama has begun his second term by declaring the possibilities are limitless. our political panel takes a look at the next four years. ♪ officemax can help you drive supply costs down... and down. use your maxperks card and get a 10-ream case of officemax multiuse paper for just 4.99 after maxperks rewards. find thousands of big deals now... at officemax. - ♪ 'cause people got me questioning ♪ ♪ where...
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Jan 24, 2013
01/13
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they agreed with speaker gingrich when he said don't move the debt ceiling. sequester is the key. >> sequester is the key. it what his boss and president obama do not want. it would trim 1.2 trillion dollars, most of which would come out of social programs. however, if you were going to annihilate the republicans, would you choose to split the gop? in other words, i'm interested in the mechanics of this annihilation scenario. let me begin with immigration. the republican party is split on immigration. i'm glad they're split on immigration. at least now there are new sensible voices. i tend to be a little more enlightened on this. is immigration where obama go to split the gop? >> if you want me to be honest -- >> be totally honest. >> you want annihilation. can you say that on this show. >> thank you. i think kelly ann might be able to back me up on this. i think the annihilation of the republican party is happening by elements of the republican party. you talked about the split you have. you have a lot of enlightened people such as yourself burr you have a l
they agreed with speaker gingrich when he said don't move the debt ceiling. sequester is the key. >> sequester is the key. it what his boss and president obama do not want. it would trim 1.2 trillion dollars, most of which would come out of social programs. however, if you were going to annihilate the republicans, would you choose to split the gop? in other words, i'm interested in the mechanics of this annihilation scenario. let me begin with immigration. the republican party is split on...
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Jan 23, 2013
01/13
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the debt ceiling is paying the debt. i am troubled, i am troubled by the fact that we would use this tactic. i want bipartisanship. in fact, someone who raises issues about the vulnerable, like myself, have worked with my republican friends. i look forward to doing it. i am an american. i believe in the constitution, but you do not raise the debt ceiling in increments. the administration says we won't stop it but we want a long-term increase so we can begin to discuss the building of this nation. growth, the constitution, that's what we should be talking about, making america better. i yield back the balance of my time. the speaker pro tempore: the gentlelady's time has expired. the gentleman from texas is recognized. mr. sessions: thank you very much, mr. speaker. the gentlewoman from texas, houston, texas, is absolutely correct. we do need long-term growth of our economy. we need jobs. we need job creation. we need to be able to reduce the debt of this country. the president is well aware, we're well aware here in cong
the debt ceiling is paying the debt. i am troubled, i am troubled by the fact that we would use this tactic. i want bipartisanship. in fact, someone who raises issues about the vulnerable, like myself, have worked with my republican friends. i look forward to doing it. i am an american. i believe in the constitution, but you do not raise the debt ceiling in increments. the administration says we won't stop it but we want a long-term increase so we can begin to discuss the building of this...
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Jan 21, 2013
01/13
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coming up, will the debt ceiling debate delay your tax refund? next in the president obama has begun his second term by declaring the possibilities are limitless. our political panel takes a look at the next four years. ♪ >>> from our fox business studios in new york, here, again, is gerri willis. gerri: well, not wasting a second of the second term, president obama making it clear who is in charge the next four years laying out a bold agenda in the inaugural address. that's how i read it. with more, maryann marsh, a democratic strategist, and rich lawry, editor of "the national review. " what do you think of the speech? >> audacious. one, it was an unabashedly progressive speech, shorn of the pose that's characterized as rhetoric. it also, i think, was audacious in its appropriation of the tradition of the american foundings. it was a direct challenge to republicans and the tea party saying you are obsessed with the founders. you are wrong. i am the one firmly within the tradition, and you are outside the mainstream, and you better get on boar
coming up, will the debt ceiling debate delay your tax refund? next in the president obama has begun his second term by declaring the possibilities are limitless. our political panel takes a look at the next four years. ♪ >>> from our fox business studios in new york, here, again, is gerri willis. gerri: well, not wasting a second of the second term, president obama making it clear who is in charge the next four years laying out a bold agenda in the inaugural address. that's how i...
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Jan 23, 2013
01/13
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house will vote today on raising the debt ceiling. secretary of state hillary clinton testifies before house and senate committee today about the september terrorist attack in benghazi, libya. republicans are talking about their own priorities and reacting to president obama's inauguration speech. we're like to hear your advice for the president for his second term. here are the numbers to call. you can also find us online. share your comments over twitter or join the conversation on facebook. you can also e-mail us. we're asking you this morning your advice for the second obama administration. isedobama speech rate stark choices, says the new york times. we would like to hear from you this morning, what you think republican options are and what your advice is. here's what's happening on capitol hill today. house gop poised to extend the debt limit. that's the headline in "usa today." the bill would buy time and would set the stage for a physical fight. house republicans are scheduled to vote today to extend a $16.40 trillion at the o
house will vote today on raising the debt ceiling. secretary of state hillary clinton testifies before house and senate committee today about the september terrorist attack in benghazi, libya. republicans are talking about their own priorities and reacting to president obama's inauguration speech. we're like to hear your advice for the president for his second term. here are the numbers to call. you can also find us online. share your comments over twitter or join the conversation on facebook....
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Jan 23, 2013
01/13
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it could be a key to the house vote today on the debt ceiling battle. nancy cortes is on capitol hill. good morning. >> reporter: good morning. that vote is set to take place in the next couple hours. this is the week we thought the big fight over raising the debt ceiling was going to get under way. that's something senate democrats haven't managed to do since 2009. no budget, no pay. that is the message from the house republican leader. >> americans believe if you don't do your job, you shouldn't get paid. that's the basis for no budget, no pay. >> reporter: the bill they will be voting on today calls for a temporary suspension of the debt ceiling until mid-may, but it requires the house and senate to craft budgets by april while members' salaries will be held in escrow. paul ryan explains the strategy. >> in the house, democrats and republicans have been leading by offering budgets and offering alternatives. the senate hasn't even done that. all we're saying is let's get the senate in here to do that to see how we're going to figure out the problem no
it could be a key to the house vote today on the debt ceiling battle. nancy cortes is on capitol hill. good morning. >> reporter: good morning. that vote is set to take place in the next couple hours. this is the week we thought the big fight over raising the debt ceiling was going to get under way. that's something senate democrats haven't managed to do since 2009. no budget, no pay. that is the message from the house republican leader. >> americans believe if you don't do your...
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Jan 22, 2013
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. >> reporter: republicans are offering a compromise on the debt ceiling, house g.o.p. members are backing off a requirement to cut $1 of spending for every dollar the debt ceiling is raised. it's a move the president has demanded. >> i do believe it is a recognition of political reality. we realize the president won the election. >> reporter: republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve a higher debt limit, they want senate democrats to do something they have not done in four years, pass a budget. >> for us to have a debate about spending and debt, we've got to have the focus be on a budget and what we're going to do to achieve a balanced budget over time. >> reporter: senate democrats view a budget vote as an opportunity to raise more money through taxes. >> it's going to be a great opportunity. in our budget that we will pass we'll have tax reform, which many colleagues like but it will include revenues. >> reporter: the house is expected to approve the debt limit increase tomor
. >> reporter: republicans are offering a compromise on the debt ceiling, house g.o.p. members are backing off a requirement to cut $1 of spending for every dollar the debt ceiling is raised. it's a move the president has demanded. >> i do believe it is a recognition of political reality. we realize the president won the election. >> reporter: republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve...
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Jan 22, 2013
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in fact, we have a debt ceiling vote tomorrow. we're not voting to raise the debt ceiling, mr. speaker. we're voting to suspend it. i think this is bad policy because i think that markets, business people and everybody else needs to know that the congress is going to stand by the credit rating and the debts of the american people. we're not going to default. we shouldn't threaten that we are, mr. speaker. it's bad. it's not a good thing to do. mr. speaker, it's important for the american people to know that when we talk about raising the debt ceiling, congress is not approving new spending. we're not borrowing -- we're saying that we're going to pay the bills on debts we already acquired. mr. speaker, it's kind of like this. if you have a family and somehow you have a mortgage to pay, you've already obligated to pay a mortgage, now, if you don't have the money for your mortgage, you may have to go to your cousin, your brother, your uncle and say, i need you to help me until next week so you can pay the mortgage. now you borrow money to an obligation you already owe. and if you
in fact, we have a debt ceiling vote tomorrow. we're not voting to raise the debt ceiling, mr. speaker. we're voting to suspend it. i think this is bad policy because i think that markets, business people and everybody else needs to know that the congress is going to stand by the credit rating and the debts of the american people. we're not going to default. we shouldn't threaten that we are, mr. speaker. it's bad. it's not a good thing to do. mr. speaker, it's important for the american people...
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Jan 24, 2013
01/13
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the debt ceiling is going up, we know that. the fiscal cliff was afraided. -- avoided. one presidential advisor says it is time for washington to do the real work to boost the economy. ed lazear is here next. tracy: nasdaq ceo bob greifeld weighs in on the new york stock exchange plans to tie up with nasdaq's former partner ice. liz claman talks with him in davos. that is coming up. first as we do every day at this time of day, let's look how oil is trading, up, just under 1%. $96 a barrel even. we'll be right back what's next? he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur
the debt ceiling is going up, we know that. the fiscal cliff was afraided. -- avoided. one presidential advisor says it is time for washington to do the real work to boost the economy. ed lazear is here next. tracy: nasdaq ceo bob greifeld weighs in on the new york stock exchange plans to tie up with nasdaq's former partner ice. liz claman talks with him in davos. that is coming up. first as we do every day at this time of day, let's look how oil is trading, up, just under 1%. $96 a barrel...
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Jan 23, 2013
01/13
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this suspends the debt ceiling until may 18th. on may 19th the government increases the debt ceiling by the amount of the debt we have accrued and. pay is suspended for lawmakers in the house if they don't pass the budget or in the senate if they don't have a budget passed by april 15th. that money goes into escrow account and won't get paid until the end of the 113th congress which comes to conclusion at end of the 2014. bill goes to the senate where senate majority leader harry reid says the senate will pass it. >> i thank speaker boehner for his leadership in diffusing a fight over the debt ceiling debate. >> now the white house says the president will not stand in the way of this bill becoming law but they are seeking a longer term debt ceiling solution as are democrats and republicans. the problem is, how are you going to do it? republicans say they will come out with a budget that makes sure the balanced budget occurs in the u.s. by the next 10 years, but they say they don't have to raise taxes to do it. democrats are still
this suspends the debt ceiling until may 18th. on may 19th the government increases the debt ceiling by the amount of the debt we have accrued and. pay is suspended for lawmakers in the house if they don't pass the budget or in the senate if they don't have a budget passed by april 15th. that money goes into escrow account and won't get paid until the end of the 113th congress which comes to conclusion at end of the 2014. bill goes to the senate where senate majority leader harry reid says the...
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Jan 29, 2013
01/13
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that pushes the debt ceiling to may 18th. the back end of number of cliffs upcoming in the calendar. look here at the government deadlines the congress and white house are facing right now. first, march 1st are the automatic spending cuts known as the sequester. they begin to hit the federal budget. that is something that takes place over the course of the year and is gradual. march 27th, that is when government spending runs out. or a large chunk of it. if there is no agreement on that, that could shut down the federal government. you're looking at debt ceiling all the way on may 18th. congressional aides saying treasury is telling them pause of extraordinary measures they can use, this pushes the debt ceiling day back to sometime this summer perhaps if this is a bill that clears congress and the senate is going to consider it the next couple of days and likely it does pass of the because the debt ceiling is pushed off and the next real fast deadline is march 27th, that government spending deadline, analysts say that increas
that pushes the debt ceiling to may 18th. the back end of number of cliffs upcoming in the calendar. look here at the government deadlines the congress and white house are facing right now. first, march 1st are the automatic spending cuts known as the sequester. they begin to hit the federal budget. that is something that takes place over the course of the year and is gradual. march 27th, that is when government spending runs out. or a large chunk of it. if there is no agreement on that, that...
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Jan 22, 2013
01/13
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it is expected to pass tomorrow, an effort to push off this debt ceiling to date. something that would have really expired in a matter of weeks for another couple of months. i think we will be doing this in may, so your kid is graduating from school into a nightmare. same time, same place. same bat channel. to the flight amid the tax threat. you hear about this -- those in power don't like being taxed. so former french president out of power, nicholas sarcozey and his wife are considering fleeing frarch. phil mickelson saying the same thing. the democratic leaders here better take note, if they have the money, they will run. there are reasons for both of these guys to bring back their remarks, as you know. but they do follow a trend of folk who is have means who are saying the government -- and governments are going too far. do they have a point? >> well, i think they definitely a point, neil. economics is a very dynamic social science. there is a latin phrase that means, all things being the same. the democratic policy approach is everything's the same. we can inc
it is expected to pass tomorrow, an effort to push off this debt ceiling to date. something that would have really expired in a matter of weeks for another couple of months. i think we will be doing this in may, so your kid is graduating from school into a nightmare. same time, same place. same bat channel. to the flight amid the tax threat. you hear about this -- those in power don't like being taxed. so former french president out of power, nicholas sarcozey and his wife are considering...
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Jan 24, 2013
01/13
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the house averted the debt ceiling fight. at least some republicans. 33 members of the house gop still broke rank. by averting, we, of course, mean punting the ticking time bomb three months down the road. >> another 90 days away so we can continue to royle this congress, this country, our people, and our economy. >> we should not even be having a debate. it should be no doubt that the full faith and credit of the united states will be honored, and that is what our constitution says. >> the gimmick nature of this whole thing i won't elaborate on, has been done before. >> either way, the passage of this bill has allowed lawmakers to skip from brinkmanship to probably more brinkmanship. looming just over the horizon is a budget battle that could shut down the government and automatic steep spending cuts that could cost thousands of jobs. welcome to the new normal in washington. joining us now from davos, switzerland, is cnbc's squawk box co-host "new york times" columnist and author of too big to fail, andrew ross sorkin. it is
the house averted the debt ceiling fight. at least some republicans. 33 members of the house gop still broke rank. by averting, we, of course, mean punting the ticking time bomb three months down the road. >> another 90 days away so we can continue to royle this congress, this country, our people, and our economy. >> we should not even be having a debate. it should be no doubt that the full faith and credit of the united states will be honored, and that is what our constitution...
WHUT (Howard University Television)
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Jan 25, 2013
01/13
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[applause] i'm trying to imagine -- we talked earlier about the fiscal cliff and debt ceiling. it is clear there is legislative gridlock in this town. what happens in the months to come with this kind of gridlock -- we already see the battle lines being drawn about what is to happen when these entitlements did on the table with in march. what happens to the poor as you see it in the coming months? >> let me first say, thank you so much for allow me to be part of this conversation. i am happy that you have been carrying on this kind of conversation over the last few years. let me try and see if i can put something in context for you -- i think that is something we never really talk about. a lot of this fiscal cliff stuff is really smoke and mirrors -- when you sit back and realize the largest portion of the debt of this country is really three things -- one is two wars we never paid for, what is a medicare part that we never paid for, and the other part is the bush tax cuts. those of the largest portions of the debt of this nation. what they're trying to do now by cutting what y
[applause] i'm trying to imagine -- we talked earlier about the fiscal cliff and debt ceiling. it is clear there is legislative gridlock in this town. what happens in the months to come with this kind of gridlock -- we already see the battle lines being drawn about what is to happen when these entitlements did on the table with in march. what happens to the poor as you see it in the coming months? >> let me first say, thank you so much for allow me to be part of this conversation. i am...
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Jan 22, 2013
01/13
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melissa: tomorrow is the big day, the house vote on extending the debt ceiling. there is a catch. that means lawmakers won't get paid unless they actually pass a budget. i love it! our panel joins us with their best strategy and the outcome for both the market and the economy. don't go anywhere. more "money" coming up. ♪ twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares re, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. lori: all right. back to business in washington now republicans hold a big vote to whether or not to extend the debt limit until may. if congress doesn't pass a budget by april 15th they no longer get paid! i have no problem with tha
melissa: tomorrow is the big day, the house vote on extending the debt ceiling. there is a catch. that means lawmakers won't get paid unless they actually pass a budget. i love it! our panel joins us with their best strategy and the outcome for both the market and the economy. don't go anywhere. more "money" coming up. ♪ twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep....
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Jan 23, 2013
01/13
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melissa: tomorrow is the big day, the house vote on extending the debt ceiling. there is a catch. that means lawmakers won't get paid unless they actually pass a budget. i love it! our panel joins us with their best strategy and the outcome for both the market and the economy. don't go anywhere. more "money" coming up. ♪ officemax can help you drive supply costs down... and down. use your maxperks card and get a 10-ream case of officemax multiuse paper for just 4.99 after maxperks rewards. find thousands of big deals now... at officemax. girl: don't look at me. second girl: your hair's a bit frizzy today. aw! ha ha! you should pick that up. announcer: every day, kids witness bullying. poor you. ha ha! they want to help but don't know how. teach your kids how to be more than a bystander. visit stopbullying.gov. lori: all right. back to business in washington now republicans hold a big vote to whether or not to extend the debt limit until may. if congress doesn't pass a budget by april 15th they no longer get paid! i have no problem with that. our panel is here with their take on
melissa: tomorrow is the big day, the house vote on extending the debt ceiling. there is a catch. that means lawmakers won't get paid unless they actually pass a budget. i love it! our panel joins us with their best strategy and the outcome for both the market and the economy. don't go anywhere. more "money" coming up. ♪ officemax can help you drive supply costs down... and down. use your maxperks card and get a 10-ream case of officemax multiuse paper for just 4.99 after maxperks...
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Jan 23, 2013
01/13
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you have said you are going to focus on the debt ceiling, the debt limit and the c.r. do you intend to bring up any of those recommendations? >> i expect our committees will hold hearings and make decisions after they have had their hearings. thank you all. [captions copyright national cable satellite corp. 2013] [captioning performed by national captioning institute] >> nancy pelosi held a briefing on the effectiveness of the violence against women act. she believes it helps to save lives and called on house republicans to re-authorize it immediately. the bill was up for consideration last year but blocked in the house by republican leadership. this is half an hour. >> good afternoon, everyone. this is a very special occasion for us to come together around a piece of legislation that strikes to the heart of our families and our country. i'm pleased to be here with democratic whip steny hire, ranking member conyers of the judiciary committee. congresswoman gwen moore, the author of the violence against women act and louise slaughter. congresswoman slaughter was one of
you have said you are going to focus on the debt ceiling, the debt limit and the c.r. do you intend to bring up any of those recommendations? >> i expect our committees will hold hearings and make decisions after they have had their hearings. thank you all. [captions copyright national cable satellite corp. 2013] [captioning performed by national captioning institute] >> nancy pelosi held a briefing on the effectiveness of the violence against women act. she believes it helps to...
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Jan 22, 2013
01/13
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. >> reporter: republicans are offering a compromise on the debt ceiling, house g.o.p. members are backing off a requirement to cut $1 of spending for every dollar the debt ceiling is raised, a move the president has demanded. >> it's believe it's a recognition of political reality. we realize the president won the election. >> republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve a higher debt limit, they want senate democrats to do something they have not done in four years, pass a budget. >> for us to have a debate about spending and debt we've got to have the focus be on a budget and what we're going to do to achieve a balanced budget over time. >> senate democrats view a vote as an opportunity to raise more money through taxes. >> it's going to be a great opportunity for us, because in our budget that we will pass, we will have tax reform which many of my republicans like but it will include revenue. >> the increase will likely happen tomorrow. >>> one other provision of the debt limit
. >> reporter: republicans are offering a compromise on the debt ceiling, house g.o.p. members are backing off a requirement to cut $1 of spending for every dollar the debt ceiling is raised, a move the president has demanded. >> it's believe it's a recognition of political reality. we realize the president won the election. >> republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve a higher debt...
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Jan 22, 2013
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they will hit the debt ceiling mid-february. this pushes this whole thing back a couple months. doug mckelway is live in washington with the story. doug, surprise, surprise, right? >> reporter: surprise, surprise, martha. this is the no budget, no pay bill. it would suspend the debt limit until may 19th at which time the debt limit would automatically increased beyond the present $16.4 trillion to accommodate whatever the u.s. borrowed at that time. it makes the extra borrowing contingent upon this. if either chamber of congress fails to pass a budget by april 15th. all income earned by members of that respective chamber would be settle aside. no budget, no pay. republicans ha been frustrated by the senate's failure to pass a budget the last four years. in his inaugural address yesterday some say the president set a not so conciliatory tone about the debt ceiling and other impasses with the gop-controlled house. >> we can not mistake absolutism for principle or substitute speckel for politics, or treat name-calling as reasoned debate. >> reporter: couple blocks away at a breakfa
they will hit the debt ceiling mid-february. this pushes this whole thing back a couple months. doug mckelway is live in washington with the story. doug, surprise, surprise, right? >> reporter: surprise, surprise, martha. this is the no budget, no pay bill. it would suspend the debt limit until may 19th at which time the debt limit would automatically increased beyond the present $16.4 trillion to accommodate whatever the u.s. borrowed at that time. it makes the extra borrowing contingent...
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Jan 21, 2013
01/13
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whether to extend the debt ceiling. well, maybe we will extended for three months without spending cuts. i think they're feeling their oats right now plan that was reflected by that statement by chuck schumer. lori: without question. thank you so much. love your insight. >> thank you, melissa. melissa: breaking news. the death toll from the algerian gas plant seeds climbing past 80 people as more bodies are being found. u.s. officials say that the american casualties now stand at three people. straight to fox news with more. >> well, that toll is likely to continue to increase in the coming days and maybe even weeks. aagerian officials continue to sift through the entire debris at the tax side. dozens of people are still unaccounted for. officials say they're finding dozens of mangled bodies all over the facility. it is really difficult to tell whether or not they are the bodies of hostages or the attackers. making matters worse according to algerian officials, fears a booby traps and mines all over the gas facility. me
whether to extend the debt ceiling. well, maybe we will extended for three months without spending cuts. i think they're feeling their oats right now plan that was reflected by that statement by chuck schumer. lori: without question. thank you so much. love your insight. >> thank you, melissa. melissa: breaking news. the death toll from the algerian gas plant seeds climbing past 80 people as more bodies are being found. u.s. officials say that the american casualties now stand at three...
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Jan 22, 2013
01/13
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call it debt ceiling spackle. why the newest development in the debt talks is much to do about nada. don't worry, everything's fine. one analyst who says don't bail on boeing just yet, tand why por phil mickelson is ready to pack his bags and get out of dodge. also a change is coming into your atm. >>> there are no big moves in the markets, but the dow touched its highest intraday level in over five years. it is on its best monthly gain since january of 2011, and part of this move is being fueled by historic highs for the dow transports for the fifth straight session. let's get straight down to courtney reagan on the floor of the nnysc. >> we are seeing the dow outperform, making it the fifth way that the transport also hit the historic highs. we have seen this pattern of the transports outperforming the industrials since the middle of december. airlines gained the most, up about 28% since the november 16th low. but if we look at stocks overall, you mentioned t not a super exciting day from the onset. we moved in
call it debt ceiling spackle. why the newest development in the debt talks is much to do about nada. don't worry, everything's fine. one analyst who says don't bail on boeing just yet, tand why por phil mickelson is ready to pack his bags and get out of dodge. also a change is coming into your atm. >>> there are no big moves in the markets, but the dow touched its highest intraday level in over five years. it is on its best monthly gain since january of 2011, and part of this move is...
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Jan 22, 2013
01/13
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guest: the debt ceiling is set to expire $6.4 trillion. we need to raise the nation's are one limits. republicans do not like that idea without having spending cuts. they have come up with a plan to extend it for a few months until may. if the democrats in the senate have not reduce a budget with spending cuts, they will set aside the pay of members of congress. it is a tricky maneuver on their part. their goal is to get senate democrats to pass this. the senate has been unable to pass a budget for the past four years. it will be a days off between the parties over the debt limit. we will get a good look at that legislation. host: senate democrats said they will pats a budget. guest: it may not include the spending cuts republicans are looking or. host: larry, san diego, democratic caller. caller: i disagree with your host that after 18 months or two years obama will no longer be effect it. -- effective. when that the house. he may be able to do more in his last two years and his last four years. guest: if the democrats can take back the h
guest: the debt ceiling is set to expire $6.4 trillion. we need to raise the nation's are one limits. republicans do not like that idea without having spending cuts. they have come up with a plan to extend it for a few months until may. if the democrats in the senate have not reduce a budget with spending cuts, they will set aside the pay of members of congress. it is a tricky maneuver on their part. their goal is to get senate democrats to pass this. the senate has been unable to pass a budget...
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Jan 24, 2013
01/13
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not going to keep raising the debt ceiling at indicating that there will be steep cuts said. what is the chance of that? >> well, i hope the is right, but i fear he is wrong. i think that the current mood of the country is more sympathetic to the president and the democrats' perspective, which is that we don't really have a serious spending problem. we have a minor spending problem we can do with a little bit. we can raise taxes on high-income households a little bit more and we don't have to make fundamental cuts in entitlements. i think that's wrong. i think we have to make substantial cuts in entitlements. we should make substantial cuts in many other components of expenditure as well, defense and nondefense in that trying to address our long term fiscal situation with higher taxes is is going to destroy the economy. gerri: democrats are beating the drum on this already. anyone you listen to from that side of the house is really talking about higher taxes. republicans and conservatives in general like to talk about the power of economic growth. could robust growth that a l
not going to keep raising the debt ceiling at indicating that there will be steep cuts said. what is the chance of that? >> well, i hope the is right, but i fear he is wrong. i think that the current mood of the country is more sympathetic to the president and the democrats' perspective, which is that we don't really have a serious spending problem. we have a minor spending problem we can do with a little bit. we can raise taxes on high-income households a little bit more and we don't...
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Jan 22, 2013
01/13
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joining us now on set to talk equity market structure, and the debt ceiling. jeff solomon cowen & company ceo. let's start with, i'm intrigued now. equity market structure. what are you going to talk about now? how do you want to talk about that? >> well, i think, i mean, we've been talking for a little over a couple of years about how crazy the equity market structure has gotten in terms of fast speeding, electronic trading, high frequency trading and how basically we've gotten away from fundamental investing in the equity markets. and so, there's a movement afoot, later on, actually beginning of next month, to have a roundtable discussion at the s.e.c. about a widening tick increments, adding bid offer spreads for small cap stocks and a way to try to drive liquidity back into the small cap market. >> my question is, if we did see a return of the individual investor and just more interest in the stock market, i argue was very low, still, even though we're getting close to highs on the -- >> i agree. >> i still think it's low. wouldn't that solve a lot of the
joining us now on set to talk equity market structure, and the debt ceiling. jeff solomon cowen & company ceo. let's start with, i'm intrigued now. equity market structure. what are you going to talk about now? how do you want to talk about that? >> well, i think, i mean, we've been talking for a little over a couple of years about how crazy the equity market structure has gotten in terms of fast speeding, electronic trading, high frequency trading and how basically we've gotten away...
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Jan 24, 2013
01/13
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WUSA
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ceiling, which is why 2013 is a make or break. >> reporter: if those decisions are postponed again? >> well, it will be pushing the can down the road yet again, which was a reproach that we made against the europeans, and i don't think that the u.s. should fall in that trap. >> reporter: lagarde said governments and legislators can't be allowed to let up or slip back, that we can't go back to business as usual. >> pelley: anthony, thank you very much. democratic senator dianne feinstein of california introduced legislation today to reinstate the federal ban on assault weapons, but she acknowledged that supporters face an uphill battle. nancy cordes is at the top of that hill tonight in washington. nancy. >> reporter: scott, the bill that she and other democrats spruced today is even tougher than the assault weapons ban that congress let lapse back in 2004. this bill would ban the sale of 157 different military-style firearms. flanked by police officers, doctors, and mayors, senator dianne feinstein of california made her case today for banning the types of weapons used to carry out
ceiling, which is why 2013 is a make or break. >> reporter: if those decisions are postponed again? >> well, it will be pushing the can down the road yet again, which was a reproach that we made against the europeans, and i don't think that the u.s. should fall in that trap. >> reporter: lagarde said governments and legislators can't be allowed to let up or slip back, that we can't go back to business as usual. >> pelley: anthony, thank you very much. democratic senator...
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Jan 21, 2013
01/13
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ceiling, let you raise the debt ceiling and violate the things we promised we wouldn't do to the people that elected us. in return, you guys, senate democrats come up with a budget and you haven't passed one in 1300 some days. chuck schumer says i'll make a deal and take you up on the offer guess what, in the new budget we're going to tax more, tax all you people to agreed to the deal that they just came to january 1st, that deal is done we'll keep that and give another, another bite of at that apple. stuart: this is a financial issue. it's a budget issue, so they need a straight up or down vote in the senate and the democrats have a majority in the senate, but i'll put it to you, a couple of democrats there, who are going to say we're not all for more and more and more taxes because we know what it's going to do to the economy. it's not a done deal, is it? they're pushing for it, but it ain't done. >> listen, harry reid, remember when john boehner was going to bring the vote to the house and he didn't have the votes after he'd said i'm going to bring the vote to the house. i have a sus
ceiling, let you raise the debt ceiling and violate the things we promised we wouldn't do to the people that elected us. in return, you guys, senate democrats come up with a budget and you haven't passed one in 1300 some days. chuck schumer says i'll make a deal and take you up on the offer guess what, in the new budget we're going to tax more, tax all you people to agreed to the deal that they just came to january 1st, that deal is done we'll keep that and give another, another bite of at that...